Of the following, which is the most accurate indicator of the degree of inequality?
A) distribution of annual income
B) distribution of lifetime income
C) distribution of wealth
D) distribution of the sum of wealth and annual income
B
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Cassie's Quilts alters, reconstructs, and restores heirloom quilts. Cassie has just spent $800 purchasing, cleaning, and reconstructing an antique quilt which she expects to sell for $1,500 once she is finished
After having spent $800, Cassie discovers that she would need some special period fabric that would cost her $200 in material and time in order to complete the task. Alternatively, she can sell the quilt "as is" now for $900. What is her marginal benefit if she sells the quilt "as is" now? A) $100 B) $900 C) She makes a marginal loss of $600, not a marginal benefit. D) The marginal benefit cannot be determined.
Given the information in Figure 14.4, the monopoly wage rate is:
A) W1. B) W2. C) W3. D) W4. E) none of the above